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Small Inflow To High Yield Mutual Funds Decimated By ETF Outflows

Retail-cash outflows to high-yield funds totaled $223 million in the week ended April 16, as a $292 million withdrawal from exchange-traded funds wiped out a $69 million infusion to the mutual fund segment, according to Lipper. This is the second inverse reading in this manner in four weeks.

The outflow dents last week’s $640 million inflow. The trailing-four-week reading slumps to positive $179 million per week, from positive $348 million last week. While certainly lower, this measurement has now been squarely positive for nine straight weeks.

The full-year reading shows inflows of $3.7 billion, and it’s 93% tied to mutual fund inflows. In contrast, one year ago at this time, the inflow totaltotal stood at $709 million, with a breakdown of $1.1 billion of mutual fund inflows offset by roughly $383 million of ETF outflows.

The change due to market conditions was negative $73 million this past week, or roughly no change to total assets of $186.1 billion, of which 20% is tied to ETFs, or $36.9 billion. Total assets are up $5.6 billion in the year to date, reflecting a gain of roughly 3% this year. –Matt Fuller

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